480 8th Street, Red Wing, MN 55066 (MLS# 7135020)

480 8th Street, Red Wing, MN 55066

$1,290,000

Property Type: Commercial Square Footage: 8,400 Lot Size (sq. ft.): 16,553 Status: Active

Current Price: $1,290,000 List Date: 8/28/2026 Last Modified: 8/29/2026

Overview

Description

The Downton Abbey is located in the historic city of Red Wing, Minnesota. Just a few short blocks to the downtown central business district and the iconic St. James Hotel. Claimed to be one of the oldest cities in all of Minnesota, it is storied with a rich history. Originally built in 1965 for the sisters of Saint Jospeh parish as a convent, this stunning three story all-brick building was transformed in 2025-2026 with six well-appointed units. There are two 3-bedroom, two 2-bedroom, and two 1-bedroom apartments spread out over the main and upper floors. The interior has been totally updated with new custom kitchens, quartz countertops, undermount sinks, stainless steel appliances including full size dishwashers and built-in microwaves, and energy-efficient Whirlpool name-brand stack washers and dryers in all apartments. The exterior has received a 30-year pitched asphalt shingled roof, Andersen series 100 windows, and the brick was tuck-pointed. The units offer luxury vinyl pla ... (Read more) The Downton Abbey is located in the historic city of Red Wing, Minnesota. Just a few short blocks to the downtown central business district and the iconic St. James Hotel. Claimed to be one of the oldest cities in all of Minnesota, it is storied with a rich history. Originally built in 1965 for the sisters of Saint Jospeh parish as a convent, this stunning three story all-brick building was transformed in 2025-2026 with six well-appointed units. There are two 3-bedroom, two 2-bedroom, and two 1-bedroom apartments spread out over the main and upper floors. The interior has been totally updated with new custom kitchens, quartz countertops, undermount sinks, stainless steel appliances including full size dishwashers and built-in microwaves, and energy-efficient Whirlpool name-brand stack washers and dryers in all apartments. The exterior has received a 30-year pitched asphalt shingled roof, Andersen series 100 windows, and the brick was tuck-pointed. The units offer luxury vinyl plank flooring, LED lighting, Kohler plumbing fixtures, tiled shower surrounds, two panel shaker interior doors, and plush carpeting in the bedrooms. Brand new electrical, plumbing, and sprinkler systems installed. Sits on an oversized corner lot with 0.38+ acres and a freshly laid 12-stall parking lot for residents to enjoy. Walking distance to shops, restaurants, churches, and the entertaining Sheldon Theatre of performing arts! PROPERTY FACTS: Year Built: 1965 Years Renovated: 2025-2026 Units: 6 garden style apartments Square Footage: Building total 8,400+ sqft Zoning: Multiple-dwelling Parking: 12 off-street parking spots Exterior: All-brick and stone exterior Heating: Individual electric furnaces / tenants pay their own unit heat Air Conditioning: Central air conditioning units / tenants pay their own AC Roof: Pitched roof new in 2025 Laundry: Each unit has a Whirlpool name brand stack Washer and Dryer unit / seller owned Storage: There are extra rooms in the lower level for tenant storage lockers UNIT DESCRIPTIONS: 1 - Three Bedroom, Two Bath - Approx. 1,015+ Sqft. / Average rent $2,100.00 1 - Three Bedroom, One Bath - Approx. 940+ Sqft. / Average rent $1,950.00 2 - Two Bedroom, One Bath - Approx. 560+ Sqft. / Average rent $1,650.00 2 - One Bedroom, One Bath - Approx. 445+ Sqft / Average rent $1,350.00 PROPERTY IMPROVEMENTS: Hallways and common areas recently painted and carpeted (2025) Newer hot water heaters (2025) Brand new forced air furnaces and central AC (2025) Exterior concrete steps and sidewalk (2026) Brand new Andersen Series 100 double-hung windows throughout the building (2025) Apartment entrance steel doors recently repainted All six of the apartments have been totally renovated from top to bottom with newer luxury vinyl plank flooring (LVP), carpet in bedrooms, new trim and doors, drywall and fresh paint, new tiled bathrooms and vanities, new custom kitchen cabinets and quartz countertops, new light fixtures, new blinds, and stainless steel appliance package.

Listing Details MLS# 7135020

General Property Information

Lot Measurement: Acres
Management Company Name: Self Managed
Multiple PIDs?: No
Other Parking Spaces: 12
Owner Occupied: No
Waterfront YN: No
Year Built: 1965
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 2800
Management Company Phone: 651-263-3653
For Sale or Lease: For Sale
Acres: 0.38
Lot Dimensions: 120 x 150
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Central Air Amenities Unit: Cable; Ceiling Fan(s); Kitchen Center Island; Paneled Doors Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer Assumable Loan: Not Assumable Basement: Concrete Block; Full; Unfinished CMU Style: Apartments/Multi Family Construction Materials: Brick; Concrete Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Fencing: Wood Flooring: Carpet; Luxury Vinyl Plank Foundation: Brick/Mortar; Concrete Block Fuel: Electric Heating: Forced Air; Heat Pump Loan Terms: Cash; Conventional Location Description: Downtown Lock Box Type: None Lot Description: Corner Lot; Sod Included in Price On Site Utilities: Electric Separate; Heating Separate; Hot Water Common Owner Pays: Hot Water; Lawn; Lawn; Repairs; Sewer; Snow Removal; Taxes; Trash Collection; Water Parking Characteristics: Parking Lot; Paved Lot Pool Description: None Potential Use: Income; Office; Professional Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less; Asphalt Shingles; Pitched Sewer: City Sewer/Connected Stories: Two Tenant Pays: Broadband; Cable TV; Electricity Topography: Level Wall Description: Concrete/Block; Drywall Water: City Water/Connected Window Features: Double Pane Windows; ENERGY STAR Qualified Windows; Window Coverings

Contract Information

Contingency: None
ListPrice: 1290000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 480
Street Name: 8th
Street Suffix: Street
Postal City: Red Wing
County: Goodhue
State: MN
Zip Code: 55066
Complex/Dev/Subdivision: Todd & Douds Sub

Assessments

Tax With Assessments: 8225

Building Information

Building Finished SqFt: 8400
Building SqFt: 8400
Ceiling Height: 8-10

More Information

Income and Expenses

Annual Caretaker Expense: 1200
Annual Electric Expense: 800
Annual Gross Expenses: 26452
Annual Gross Income: 118188
Annual Insurance Expense: 6219
Annual Maintenance Expense: 1500
Annual Net Income: 91735
Annual Repair Expense: 2400
Annual Trash Expense: 1620
Annual Water/Sewer Expense: 3987
Total Annual Expenses: 26452

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Sale Options

Sale Includes: Building, Fixture/Equipment, Inventory, Land, Rental License

Unit 1

No. of 1 Bedroom Units: 2

Unit 2

No. of 2 Bedroom Units: 2

Unit 3

No. of 3 Bedroom Units: 2

Unit Details

Total Units: 6

Listing Office: Apartment Cash Flow, Inc.

Last Updated: August - 29 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

480 8th Street, Red Wing, MN 55066 (MLS# 7135020)